1. Is it possible to continue extending a project that has been behind schedule many times?

In fact, there are currently many projects that are behind schedule despite having carried out extension procedures many times at competent state agencies. Adjusting the progress of investment projects is specifically and clearly approved by competent state agencies with the aim of creating conditions for investors to continue implementing that project to realize it. actual project, the competent state agency decides on the investment policy and approves the investment policy or approves the investment in accordance with the provisions of law on investment, in accordance with the provisions of law on investment. housing law, urban and construction law regulations before the 2022 Investment Law takes effect, this regulation is specifically shown in Article 117 of Decree 31/2021/ND- Government's Government on detailing and guiding the implementation of a number of articles of the Investment Law.

Accordingly, it can be said that in cases where the investment project's progress has been adjusted before the actual effective date of the Investment Law, the investment project implementation progress will continue to be adjusted accordingly. with the provisions of the law on investment and the provisions of Decree 31/2021/ND-CP of the Government on detailing and guiding the implementation of a number of articles of the Investment Law, however, it is not allowed. Adjusting the investment project progress beyond 24 months is calculated from January 1, 2021, if it is considered that the end of the final investment project implementation progress is recorded in the policy decision document. investment or investment approval document or investment registration certificate issued by a competent state agency before January 1, 2021, or no more than 24 months from the date of completion. Accelerate the implementation progress of the final investment project as specified in the investment policy decision document or investment approval document or investment registration certificate issued by a competent state agency. (if the end time of the final investment project implementation progress is specifically specified in the investment policy decision document or investment approval document or investment registration certificate approved by the agency). The state has the authority to issue after January 1, 2021, except for the cases specifically stipulated in Points a, b, c, d, dd and e, Clause 4, Article 41 of the First Law. private.

In general, it can be said that the limitation on the process of adjusting the progress of investment projects to no more than 24 months according to the provisions of the above law can only be applied to the case of investment projects that have been completed. to decide on the investment policy or approve the investment policy or approve the investment by a competent state agency. Therefore, it can be said that in the case of an investment project operating under an investment certificate or an investment project that is not subject to decision or an investment project that is not subject to investment policy approval according to the provisions of law, Investment laws are not limited in the progress of investment projects according to the above analysis. In case an investment project has land recovered by a competent state agency due to the reason of not putting the land into use or being slow to put the land into use according to the provisions of land law, the agency has Investment registration authority will terminate or partially terminate the activities of investment projects based on the provisions of Article 48 of the Investment Law 2022. Accordingly, it can be said that for investment projects Although progress has been delayed many times, it is still perfectmaybe continue to extend and adjust the progress of investment projects according to the provisions of law.

2. How to handle projects that do not comply with the extension period?

Pursuant to the provisions of Article 41 of the Investment Law 2022, there are regulations that, for investment projects with approved investment policies according to the provisions of law, investors will not be entitled to any adjustments. The investment project implementation progress exceeds 24 months compared to the investment project implementation schedule specified in the initial investment policy approval documents issued by competent state agencies, except in cases where the following basics:

– Aims to carry out remedial activities in cases of force majeure beyond human will in accordance with the provisions of civil law and in accordance with the provisions of land law;

 Adjusting the progress of investment projects due to investors being slow to receive land allocation from a competent state agency or a competent state agency leasing land or allowing a change of purpose from a competent state agency Use land according to the provisions of land law;

– Adjust the progress of investment project implementation at the request of a competent state agency or a competent state agency is slow in implementing administrative procedures;

– Adjusting investment projects due to changes in planning by competent state agencies;

– Changing the goals specifically stated in the investment policy approval document or adding goals subject to investment policy approval according to the provisions of law;

– Increase total investment capital by 20% or more, thereby changing the entire scale of the investment project.

Accordingly, it can be said that, based on the above regulations and analysis, in addition to adjusting the progress of investment projects in case of force majeure, investors can also adjust the progress of investment projects. Investment projects exceeding 24 months in other cases due to delays in land allocation or land lease or permission to change land use purposes by competent state agencies, the investment project implementation schedule may be adjusted. investment at the request of a competent state agency or due to slow implementation of administrative procedures by a competent state agency, or due to a change in planning by a competent state agency. However, in general, it can be said that this regulation only applies to investment projects subject to investment policy approval by competent state agencies. Therefore, it is recommended to review the actual causes of behind schedule investment projects so that we can consider cases where investors are allowed to adjust investment project progress over 24 months according to the provisions of law. .

3. Regulations on operating time of investment projects:

Pursuant to the provisions of Article 44 of the Investment Law 2022, there are regulations on the operating term of investment projects. Accordingly, the operating term of investment projects is specifically stipulated as follows:

– The operating term of investment projects in economic zones according to current law is determined to be no more than 70 years;

– The operating term of investment projects outside economic areas according to current law is determined to be no more than 50 years, for investment projects implemented in areas with favorable economic conditions. difficult socio-economic conditions or areas with particularly difficult socio-economic conditions or investment projects with a large amount of investment capital but the ability to recover capital slowly will reduce the operating term of the investment projects. That can last longer than normal investment projects but cannot exceed 70 years;

– For investment projects that are allocated land by a competent state agency or a competent state agency leases land, but investors are slow to carry out actual land handover procedures, the Delays in handing over land to competent state agencies will not be counted in the operating time and not included in the investment project implementation progress of that project;

– At the end of the investment project's operating term, investors wish to continue implementing that investment project and are deemed to fully meet the conditions prescribed by law on investment. will be considered to extend the operating time of the investment project, but must not exceed the maximum period according to the above analysis, excluding the following investment projects: Investment projects using technology outdated or investment projects that have the risk of causing environmental pollution or consuming natural resources, investment projects in cases where investors must transfer assets to state agencies without compensation authorized by Vietnam or the Vietnamese party.

Thus, it can be said that in the event of the expiration of the investment project's operating term, those investors still have the need to continue implementing the investment project in reality and the investors can fully meet the requirements. If all conditions are met according to the law on investment, the competent state agency will consider extending the operating time and implementation period of the investment project.

Legal documents used in the article:

– Investment Law 2022;

– Decree 31/2021/ND-CP of the Government detailing and guiding the implementation of a number of articles of the Investment Law.